Tag Archives: housing market

Buyers need far better representation in the British housing markets

Published / by Peter Hendry / Leave a Comment

With estate agents acting primarily for sellers and land owners, buyers get poor advice or representation all too often.
Even though they are the ones raising (and usually borrowing) the money for each transaction, they are often the last ones to be told how things are progressing, especially where chains of other sales are involved. A lot of patching up of interlinked chains is frequently going on behind the scenes which is not necessarily to the advantage of buyers further down the chain.

This is inefficient and unproductive and needs to change so that the various local housing markets across England and Wales can begin to function more like perfect marketplaces; as they truly should.

All this is because estate agents are primarily motivated to try and obtain the best price they can for whatever asset it is they are selling since they are contracted to act on behalf of the seller. The buyer is often the last person to be told when things are going against them and by then the only remedy remaining is for them is usually to find more cash to feed into the situation!

House prices are now returning to all time highs, but they are also increasing beyond average couples’ annual earning capacities for borrowing requirements. This is a big problem. It’s vital that a more holistic approach is offered to everyone embarking on a house move, especially if it’s a first-time purchase.

The only way this could be done would be to change the way residential property is sold by having agents acting for buyers instead of only for sellers.

What stands in the way of this happening is that existing estate agents are naturally going to be reluctant to consider such a change for as long as they can continue to control sales progress in the way they have done historically, essentially since the 1920s.

It would need the buying public to start seeing the anomalies they are having to contend with when using agents and to lobby government to make the necessary improvements to bring about fairer competitive pricing across all residential property markets. Only then could house prices more appropriately track buying power in the locality in which a particular property is located.
This situation does need further in-depth explanation in order for the concept to be fully understood.

For a fully reasoned explanation about this, explaining exactly how this should be achieved please go to:

The Hendry Solution: Full details of our proposals for properly reforming the UK housing market..

Peter Hendry, Consultant in Housing Valuation

Fundamental changes still necessary to all housing markets in England and Wales

Published / by Peter Hendry / Leave a Comment

The BBC has very recently published an article about deemed improvements to the housing market in England and Wales and which should be incorporated in the White Paper coming before Parliament shortly.

In a survey carried out for the Local Government Association (LGA) concerning this, Martin Tett, LGA housing spokesman, is reported to have said that an opportunity to boost housing supply and improve affordability now presents itself to government.

He explained that the government must recognise that a substantial increase in house building by councils will be crucial to help ensure the availability of a mix of affordable homes both for rent and to buy for the people that will need them.

For the full article, please go to:
BBC article on improvements to the housing market

My proposal for the way housing (within England and Wales) should be marketed, is based on changing from vendor-centric estate agencies to buyer-oriented ones, as described in The Hendry Solution. This would not cost much to implement and would bring massive benefits to all local marketplaces.

To read more about ‘The Hendry Solution’ please go to the following link:

Improve The Housing Market.
How to Improve the UK Housing Market.

Peter Hendry, Consultant in Housing Valuation

Simply building more houses can’t solve the housing crisis

Published / by Peter Hendry / Leave a Comment

Obviously we need to get more houses built, both for rent and to buy but developing this as a strategy for calming the housing market is not going to remedy the prices uplift which we have recently experienced. It cannot do that simply because building more can’t achieve anything for as long as the considerable time it would take to actually complete the building of the extra housing needed!

The market itself is in need of intervention and this does need the steady hand of an experienced government. One that can put effective policies into practice faster than the simple and well-thumbed ‘build more’ idea.

My solution is to overhaul the way in which houses are marketed, both for sale and to let by changing the way agents themselves operate.

A more market friendly method is needed so that house prices can be attuned more towards peoples ability to pay, with less of the speculative pricing by agents, whom currently act only for the vendor legally. It is this which needs urgent attention.

A more transparent housing market would not only take the froth out of asking prices but would have the added effect of calming rent levels too. For more information please go to the link below:

My proposal for the way housing in England and Wales should be marketed, is based on changing from vendor-centric estate agencies to buyer-oriented ones as described in The Hendry Solution. This would not cost much to implement and would bring massive benefits to all local marketplaces.

To read more about The Hendry Solution go to the following link:

Improve The Housing Market.
How to Improve the UK Housing Market.

Peter Hendry, Consultant in Housing Valuation